form of investment cycles. These quasi-periodic movements can be represented as low order, stochastic, dynamic processes … with complex eigenvalues. Specifically, there is a fixed investment cycle of about 8 years and an inventory cycle of about … adjustment costs both in relation to the capital stock and the rate of investment. By means of parametric resonance it was …

shock. Our estimated model uncovers a central role for investment in the transmission mechanism of monetary policy, as high … MPCs amplify the investment response in the data. This force also generates a procyclical response of consumption to … investment shocks, leading our model to infer a central role for these shocks as a source of business cycles. …

-level investment is procyclical. We show that a heterogeneous-firm RBC model with quantitatively realistic countercyclically disperse … state investment rate distribution, produces investment dispersion that positively comoves with the cycle, with a …-sectional firm dynamics ; lumpy investment ; countercyclical risk ; aggregate shocks ; idiosyncratic shocks ; heterogeneous firms …

-varying uncertainty, highlighted in the literature. -- Ss model ; RBC model ; lumpy investment ; countercyclical risk ; aggregate shocks …

We estimate a New-Neoclassical Synthesis model of the business cycle with two investment shocks. The first, an … investment-specific technology shock, affects the transformation of consumption into investment goods and is identified with the … relative price of investment. The second shock affects the production of installed capital from investment goods or, more …

effect of time-varying uncertainty, highlighted in the literature. -- Ss model ; RBC model ; lumpy investment …

of firm-level investment is procyclical. We show that a heterogeneousfirm RBC model with quantitatively realistic … of the steady state investment rate distribution, produces investment dispersion that positively comoves with the cycle … ; cross-sectional firm dynamics ; lumpy investment ; countercyclical risk ; aggregate shocks ; idiosyncratic shocks …

The macroeconomic implications of firms' lumpy investment behavior are subject to ongoing research. Lumpy investment … periods, thereby reducing the frequency of investment activities. Using a dynamic stochastic general equilibrium model with … compute firms' optimal decisions on investment, utilization and labor demand. Compared to the constant utilization model, the …

on that firm's investment decisions. Ordered probit estimation results show that if a firm makes more expectation errors … -faces more uncertainty- it is more likely to defer investment plans even after controlling the aggregate uncertainty. …

We document the empirical fact that asset prices in the consumption-goods and investment-goods sector behave almost …